Wilson Sonsini Goodrich & Rosati advised AppDirect on the deal.
AppDirect, a leading subscription commerce platform, announced investments of US$185 million from global institutional investor Caisse de dépôt et placement du Québec (CDPQ) and existing investors. The $185 million in funding brought the total equity raised by AppDirect to approximately $465 million.
Since its funding round in 2015, AppDirect has experienced tremendous growth across all indicators—increasing Gross Merchandise Value (GMV) more than 1,500 percent since 2015 to over US$1 billion, expanding its global footprint, and servicing more than 2,000 merchants around the globe. The new funding supports accelerated organic expansion, strategic acquisitions and additional hiring.
AppDirect offers a subscription commerce platform that removes the complexity of building a recurring business model. Sell any product, through any channel, on any device—as a service. Its platform opens up endless opportunities for commerce innovation, giving businesses the freedom to grow. AppDirect powers millions of subscriptions worldwide for organizations like Jaguar Land Rover, Comcast, Sage, Keller Williams, and ADP.
The Wilson Sonsini team that represented AppDirect in the transaction includes Mark Baudler (Picture), Melissa Rick, Jonathan Chan, Mike Lin, Raymond Singson, and Hoy Shih.
Involved fees earner: Mark Baudler – Wilson Sonsini Goodrich & Rosati; Jonathan Chan – Wilson Sonsini Goodrich & Rosati; Mike Lin – Wilson Sonsini Goodrich & Rosati; Melissa Rick – Wilson Sonsini Goodrich & Rosati; Hoy Shih – Wilson Sonsini Goodrich & Rosati; Raymond Jed Singson – Wilson Sonsini Goodrich & Rosati;
Law Firms: Wilson Sonsini Goodrich & Rosati;
Clients: AppDirect Inc;